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Blackstone’s headquarters in Midtown Manhattan

NEW YORK CITY—Blackstone Real Estate Income Trust (BREIT) and Columbia, Md.-based Corporate Office Properties Trust (COPT) have formed a joint venture in which Blackstone will acquire seven of COPT’s single-tenant data center shell properties, which also contain 1.2 million square feet of warehouse space, for $265 million. The joint venture will be owned 90% by BREIT and 10% by COPT, which received $238.5 million in proceeds from the deal.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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